Qatar pledges $15 billion of investment in Turkey

Ankara's latest move follows President TrumpDonald John TrumpDems make history, and other takeaways from Tuesday's primaries Pawlenty loses comeback bid in Minnesota Establishment-backed Vukmir wins Wisconsin GOP Senate primary MORE's announcement last week that he will double tariffs on imports of steel and aluminum from Turkey until it releases US pastor Andrew Brunson, who was arrested in 2016.

Washington´s move came during an ongoing dispute over Turkey´s holding of an American pastor for two years.

Only one USA measure directly affects Turkey's economy: Trump's decision to increase tariffs on the import of Turkish steel and aluminum.

In this Friday, Dec. 25, 2015 photo, Turkey's President Recep Tayyip Erdogan, right, holds Turkish citizen Vezir Cakras by the hand while speaking on his mobile phone inside his vehicle in Istanbul.

Ankara said it will impose extra tariffs on imports of products including rice, vehicles, alcohol, coal and cosmetics.

The decision shows Turkey giving a proportionate response to American "attacks" on the Turkish economy, Vice President Fuat Oktay said in a tweet.

The Turkish lira has plummeted to record lows in recent weeks and has dropped 42 percent so far this year, a reaction to Turkey's strained relations with the United States and Erdogan's economic policies and debt accumulation.

On Tuesday, Erdogan announced that Turkey would boycott U.S. electronic goods, singling out iPhones.

It usually takes a court between 3 to 7 days to process an appeal but a ruling could come sooner in this case, Brunson's lawyer Ismail Cem Halavurt told Reuters.

"They will likely just give warm words to Turkey, looking to exploit the situation and stir things up for the USA and the West", said Timothy Ash, senior strategist at BlueBay Asset Management.

"The president has a great deal of frustration (about) the pastor not being released", White House press secretary Sarah Sanders said Tuesday.

Meanwhile, Turkey has also decided reject a USA appeal calling for the release of an imprisoned American pastor.

A White House official warned on Tuesday of additional economic sanctions or other pressures if Turkey continues to refuse to release Brunson. The lira is down roughly 40 per cent this year, dropping 10 per cent of its value on Monday alone.

"(President Erdogan) is not acting like much of an ally, and he hasn't acted like much of an ally for some period of time", Ambassador-at-Large for International Religious Freedom Sam Brownback said.

Mr Erdogan has said Turkey is the target of an economic war, and made repeated calls for Turks to sell their dollars and euros.

"I don't think the Russians will bankroll Turkey at this stage, as I think they have their own issues with the United States with sanctions and will want to maintain their own FX buffers", he said.

She lamented that Turkey had treated Brunson, "who we know to be a very good person and a strong Christian who has done nothing wrong, very unfairly, very badly".

The lira was trading at 6.3 to the dollar, a gain in value on the day of 0.8 percent.

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